The Power of Algebraic Polynomials
Algebraic polynomials are the preferred 'approximators' in mathematics because they are easy to evaluate, differentiate, and integrate using simple arithmetic operations.
Functions of the form:
$$P_n(x) = a_n x^n + a_{n-1} x^{n-1} + \dots + a_1 x + a_0$$
The Weierstrass Approximation Theorem
This theorem serves as the theoretical foundation for numerical analysis by guaranteeing that any continuous function on a closed, bounded interval can be approximated to any desired level of accuracy.
Suppose $f$ is defined and continuous on $[a, b]$. For each $\epsilon > 0$, there exists a polynomial $P(x)$ such that:
$$|f(x) - P(x)| < \epsilon, \text{ for all } x \text{ in } [a, b]$$
Interpolation vs. Local Approximation
While Taylor polynomials are highly accurate at a specific point, they often diverge rapidly as we move away from that point (the local accuracy pitfall). Interpolation seeks to use data points across the entire interval to provide a global fit that satisfies the Weierstrass condition.